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Stocks Fall as Investors Brace for Earnings Reports

They start on Tuesday
By Newser Editors and Wire Services
Posted Apr 13, 2020 3:12 PM CDT

(Newser) – Stocks generally closed lower on Wall Street Monday as investors braced for what is likely to be a tough week for company earnings because of the coronavirus outbreak. Major banks and other companies will start reporting their earnings this week, including JPMorgan Chase, which releases its report early Tuesday, per the AP. The S&P 500 fell 28 points, or 1%, to 2,761; the Dow fell 328 points, or 1.3%, to 23,390; and the Nasdaq rose 48 points, about half a percent, to 8,192. The benchmark S&P was coming off a gain of 12% last week, its best weekly gain in 45 years. Also Monday, oil prices wound up somewhat lower after OPEC nations and other big producers agreed to reduce output. Demand for energy has cratered because of travel restrictions and business shutdowns related to the outbreak. (Read more stock market stories.)

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